We can expect an inverse head and shoulders to form over the next few weeks. If you were stopped out, wait to re-enter on a solid close above this neckline. This is the short-term play, but ultimately this could complete a larger cup and handle bullish pattern to ATHs. There is no where to hedge or hide, just sit on your hands! (+30% potential in here soon). By the way, the daily 50MA is at .xxxx32, just where that neckline is ;)
NOTE:
- An inverse head and shoulders is similar to the standard head and shoulders pattern, but inverted: with the head and shoulders top used to predict reversals in downtrends
- An inverse head and shoulders pattern, upon completion, signals a bull market
- Investors typically enter into a long position when the price rises above the resistance of the neckline.
NOTE:
- An inverse head and shoulders is similar to the standard head and shoulders pattern, but inverted: with the head and shoulders top used to predict reversals in downtrends
- An inverse head and shoulders pattern, upon completion, signals a bull market
- Investors typically enter into a long position when the price rises above the resistance of the neckline.
